Braun Stacey Associates Inc. decreased its position in American Tower Corporation (REIT) (NYSE:AMT) by 3.8% during the second quarter, Holdings Channel reports. The institutional investor owned 79,183 shares of the real estate investment trust’s stock after selling 3,128 shares during the period. Braun Stacey Associates Inc.’s holdings in American Tower Corporation (REIT) were worth $10,477,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Alexandria Capital LLC increased its position in shares of American Tower Corporation (REIT) by 0.5% in the second quarter. Alexandria Capital LLC now owns 812 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 4 shares during the period. Webster Bank N. A. increased its position in shares of American Tower Corporation (REIT) by 86.1% in the first quarter. Webster Bank N. A. now owns 1,005 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 465 shares during the period. Heritage Trust Co bought a new position in shares of American Tower Corporation (REIT) during the first quarter worth $122,000. Farmers & Merchants Investments Inc. increased its position in shares of American Tower Corporation (REIT) by 72.6% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,189 shares of the real estate investment trust’s stock worth $157,000 after buying an additional 500 shares during the period. Finally, Cornerstone Advisors Inc. increased its position in shares of American Tower Corporation (REIT) by 1.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $163,000 after buying an additional 15 shares during the period. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

Shares of American Tower Corporation (NYSE:AMT) opened at 137.85 on Thursday. The stock’s 50 day moving average price is $134.81 and its 200 day moving average price is $123.63. American Tower Corporation has a 12 month low of $99.72 and a 12 month high of $139.50. The company has a market capitalization of $59.16 billion, a PE ratio of 55.14 and a beta of 0.71.

American Tower Corporation (REIT) (NYSE:AMT) last announced its earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by $0.75. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.64 billion. American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.38 earnings per share. On average, analysts forecast that American Tower Corporation will post $3.02 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, June 19th were given a dividend of $0.64 per share. This is a boost from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Thursday, June 15th. American Tower Corporation (REIT)’s payout ratio is presently 102.81%.

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A number of brokerages recently weighed in on AMT. Argus boosted their price target on shares of American Tower Corporation (REIT) from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a report on Thursday, August 3rd. BidaskClub raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Deutsche Bank AG boosted their price target on shares of American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, July 14th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $150.00 price target on shares of American Tower Corporation (REIT) in a report on Thursday, July 6th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $142.67.

In other news, Director David E. Sharbutt sold 3,653 shares of American Tower Corporation (REIT) stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $128.61, for a total transaction of $469,812.33. Following the transaction, the director now directly owns 10,098 shares of the company’s stock, valued at approximately $1,298,703.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Steven C. Marshall sold 20,548 shares of American Tower Corporation (REIT) stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $134.92, for a total value of $2,772,336.16. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.

American Tower Corporation (REIT) Company Profile

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

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Institutional Ownership by Quarter for American Tower Corporation (REIT) (NYSE:AMT)

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